Here's a new one for me, Section 1033

5 replies
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I know a like kind exchange under Section 1031 gets reported on Form 8824. Is there a form in ProSeries Professional that reports a Section 1033 exchange, an involuntary conversion (governmnet took the land to build something for the public)

ProSeries Professional

T

Terry53029Answer

Intuit Community Champion

Just type 1033 in the green ? mark on top menu when in clients return, and fill out the worksheet that pops up

J

judys3

Level 6

https://accountants.intuit.com/support/en-us/help-article/federal-taxes/entering-1033-election-involuntary-conversion/L19owZyRO_US_en_US?srsltid=AfmBOopw1f8eQtUtt3DwT61CViQcp5po9Cl7zabhOEIFKN2rX9tNbaSI&uid=m3yiwebl

I just googled and found this

Jim-from-Ohio

Author

Intuit Community Champion

saw that.. seems lacerte has it.. I will keep looking to see if PS has it.

Jim-from-Ohio

Author

Intuit Community Champion

found this.. this may help: https://accountants.intuit.com/community/proseries-tax-discussions/discussion/1033-condemnation-exchange-in-proseries/00/291112?srsltid=AfmBOoohQrbIT_su5mBcAB6OYsJPqCtcgZk5WBD6Voo9VZkdgi-tkLlR

T

Terry53029

Answer

Intuit Community Champion

Just type 1033 in the green ? mark on top menu when in clients return, and fill out the worksheet that pops up

Jim-from-Ohio

Author

Intuit Community Champion

thanks! i forgot about the where do i enter button. so used to calling up the exact forms

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